.gbp/nzd.
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Hello, fellow Pound-Kiwi trader! I agree, but I put it down to three factors:
- Mondays can be slower days;
- there was a distinct lack of high-risk data releases;
- the RBNZ rate decision is in two days.
The last point is important, because a lot may rest on this rate decision, so many Kiwi speculators may stay off trading before this event is over.
What do you think?
Yea I thought about (1) as well but haven’t been aware of the other 2 reasons. I just saw the news calendar and will probably wait for the RBNZ decision on Wednesday. Might scalp trade for a few pips the coming 2 days though if things look good
Thanks
I went long after the positive GBP trade balance news, but its down 40 pips already, I thought the 1st red candle on the 5m chart was a fakeout so I went long at the green candle after it
Worry not…
I went long too last night, and this morning it was nearing the 2.16 mark well before the Frankfurt open
(7am) but then I closed it after seeing it struggling to hold up, coming away with +38 pips (from about
+80 earlier on).
I will now stay put until the RBNZ rate decision tomorrow night, because there is nothing on the horizon
that will significantly improve the GBP/NZD to the upside, or push NZD/USD back down (given that the
US Dollar is going to be a slow mover until the FOMC rate decision next week).
Well, it certainly was not moving slowly last night!
A fantastic move… what of the follow-through, though?
Just got informed by my broker that “all NZD pairs will be added to our list of currencies that are not available on Swap Free accounts”
Seems like I won’t be able to trade this pair
What is a swap free account? Because I have that on mine
Does this explanation make sense or seem applicable to you?
Hello traders!
Well, I saw an opportunity to trade the GBP/NZD earlier today once it broke above the 2.30 mark again…
When the pair started having a long pause under 2.31 I just exited with +74 pips and was content with that…
Little did I know that the pair would soon drop by 250 pips in four hours!! A close call… Thankfully I was only
testing the water, and left my live account alone.
Breaking above this 2.30-2.31 supply area seems to be the biggest thing to accomplish, at the moment, after
an epic ten-week bullish run!
All eyes to the charts!
I came here to post about this pair. LOL. On the daily chart, I think this pair is setting up for a sharp fall.
After charging higher today, the pair made me another sixty (60) pips!
We are now at TWELVE CONSECUTIVE BULLISH WEEKS (on the weekly chart that is a lot of green candles in a row…pretty)!
The pair has now well and truly munched its way through 2.32 after some hesitation…
There was a supply zone around the 2.34 in November of 2009, and if the pair went through this (it is currently banging its
head against that level) it would open itself up to incredible new highs…
Do not discount this pair as ‘overbought’ just yet…
Happy Trading.
Ive been in this pair for a while now, since I spotted your posts, and its been a nice earner. Still in it now with profit locked in and happy to let it ride.
A great example of why long term trading makes sense.
Absolutely!
Well done!
Hello traders!
In this week of uneven market sentiment, GBP/NZD shed nearly seven hundred pips(!) in just over two days(!)…
I am glad that I stayed out of it since I took profit by 2.34…
Good luck with it all…
Might be worth a punt at this rate but will probably wait for it to turn first rather than try to catch a falling knife
I got in right at the very top, exit at 2.31 with 300 pip profit, all on demo
went to live and thought I saw a buying opportunity at 2.297, lost it.
I keep trying to revenge my $180 loss and it keeps adding up, I should probably never trade it again 
If it goes over 2.29 ill probably go back in again
may i ask why gbpnzd and not nzdusd. nzdusd in nice downtrend channel. currently at top of channel looking ripe for more sell.
gbp is meh and with eurogreece etc i guess it will be more bumpy than usd, idk. cheers. think i heard rate on nzd should be cut again, july 22nd?
Aboslutely, never try that… they may not want to save your hand when you turn up at Accident and Emergency with a falling currency injury hahaha
Hi Pablo… you may indeed ask that! The Kiwi-Dollar down-move is as overdone and ripe as the up-move on the GBP/NZD, so either you sell the NZD against the JPY, which, again, will have a correction at some point, or you may still have to keep off the Kiwi altogether and wait for the
23rd of July for the RBNZ possible rate cut… Also, do not forget that we are trading the GBP/NZD for its average
300-pip-per-day range, which makes you money faster (and loses you money too at as a fast a rate, of course) than other Kiwi pairs… That is why we rode this wave, rather than the Kiwi-Dollar, for example…
I would also never, EVER discount the possibility (no matter how low-probability that scenario may seem the day before) of something like a surprise rate hike from the BoE, which has its rate decision tomorrow, 9th July… Just like it happened for the RBNZ last month, when it caught a lot of people by surprise as only a minority had accounted for a rate cut, and yet Gov. Wheeler got up there and announced just that… bang… and do you remember what moves we got from the Kiwi?
Be prepared…
